HALA, Saudi Arabia's premier fintech delivering embedded financial services to micro, small, and medium enterprises (MSMEs), has raised $157 million in a Series B funding round, marking one of the region's largest fintech investments. Led by The Rise Fund, TPG's global impact strategy, and Sanabil Investments, a Public Investment Fund (PIF) entity, the round includes QED, Raed Ventures, Impact 46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital. The capital will fortify HALA's Saudi dominance, expand lending for MSMEs and freelancers, and drive regional growth, aligning with Vision 2030's SME GDP enhancement goals.
HALA's robust growth validates its scalable model, serving over 142,000 enterprises with comprehensive solutions including business accounts, card issuance, payments, transfers, POS systems, financing, and corporate cards. The funding addresses MSME challenges in a sector comprising 99% of Saudi private businesses and contributing $310-375 billion to GDP annually. By enhancing lending and embedded services, HALA enables freelancers and small operators to access capital for expansion, inventory, or new branches, fostering job creation and economic diversification.
The diverse investor syndicate brings global expertise to HALA's ambitions, with The Rise Fund's debut Middle East investment highlighting the platform's social impact potential. Existing backers' continued support, alongside newcomers like Sanabil, underscores confidence in HALA's innovation. “This landmark investment is a turning point for HALA, reflecting on our relentless pursuit of innovation and excellence in serving small businesses,” said Esam Alnahdi, Co-founder and Chairman of HALA. “We are honored that our new investors recognize the potential of our vision and the impact we aspire to make in the MSME landscape. Our journey is just beginning, and this support fuels our drive to create meaningful change.”
Maher Loubieh, Co-founder and Group CEO of HALA, added: "We are honored by the continued trust and support of our existing investors – distinguished local and regional business leaders and funds – whose contributions have been instrumental to HALA’s journey so far. At the same time, we are proud to welcome all our new partners, including TPG's Rise Fund and Sanabil, who, by joining our journey, gave a strong testimonial of the business that the team has built. As we look at the next phase of our growth, we believe that our diverse group of prominent investors bring valuable global expertise and perspective which will elevate our ambitions to execute with even greater scale and impact."
Yemi Lalude, Partner at TPG and Head of Europe, Middle East and Africa for The Rise Funds, noted: “HALA is uniquely positioned to empower micro and small businesses, a key pillar in the region’s economy, by delivering business owners and their customers a broad and growing set of payment solutions. We are excited to support the HALA team in building a clear leader in this underserved segment. Our investment underscores our belief in the growth potential of this market, the rising demand for robust digital banking solutions, and the critical role entrepreneurs play in shaping the next generation economy, not just though innovation but by creating jobs, expanding access, and delivering meaningful social impact.”
A spokesperson for Sanabil Investments stated: “We are excited to lead this landmark Series B funding round for HALA. This investment underscores our belief in HALA’s potential to reshape the future of financial services for SMEs and aligns with Sanabil’s mission to support visionary companies with patient capital and strategic guidance. We look forward to partnering with HALA and the other investors in supporting their continued success and expansion.”
HALA's Series B positions it as a fintech powerhouse, leveraging investor synergies to scale impact across the Middle East. By prioritizing MSME enablement, HALA not only drives financial inclusion but also advances Saudi Arabia's Vision 2030, transforming underserved segments into economic engines through accessible, innovative services.
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HALA, co-founded by Esam Alnahdi (Chairman) and Maher Loubieh (CEO), is a leading fintech company based in Saudi Arabia, dedicated to empowering micro, small, and medium enterprises (MSMEs) with innovative financial services. Since its inception, HALA has rapidly grown its footprint by offering a comprehensive suite of embedded financial solutions, including business accounts, card issuance, payment and transfer services, and point-of-sale solutions. With a vision to transform the financial landscape for businesses, HALA has already supported over 140,000 enterprises, processing more than $8 billion in annual transactions. The company's commitment to innovation and excellence has solidified its position as a pioneer in the MSME fintech space, driving both economic growth and social impact across the region. For more information, please reach visit www.hala.com or reach out to ir@hala.com
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
Sanabil is a financial investment company, wholly owned by the Public Investment Fund (PIF), that commits more than $3 billion in capital per annum into global private investments that include VC/Growth. Sanabil is a dynamic, nimble, and highly experienced team of investment professionals. Sanabil provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, great minds, and great companies.
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